1977 peugeot 504

Could Ahmadinejad's Old Car Fetch $1 Million?

Back in November, my colleague Noah Joseph mentioned that a 1977 Peugeot 504 belonging to Iranian President Mahmoud Ahmadinejad was to be auctioned off. Now an AP report says that the 33-year-old car has received a million-dollar bid even though it is only worth several thousand dollars.

The old white Peugeot sedan s being auctioned off to raise money for housing for low-income families in Iran. During his candidacy several years ago he often appeared in the car to show that he was a man of the people. Top bidders on the designated website will be invited to the auction, which will be held in mid-February in Abadan. The website is accepting offers until the end of January. The government has promised to build nearly 1 million housing units by March 2011.

Tags: 1977 peugeot 504, Mahmoud Ahmadinejad

Iran's Ahmadinejad Auctioning Off his 1977 Peugeot

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions, Charity

Iran's Ahmadinejad Auctioning Off his 1977 Peugeot

Looking to get your hands on a presidential ride? Well this might seem like a stretch from the Cadillac which Barack Obama rides around in, but it is presidential nonetheless. A 1977 Peugeot 504, it belongs to Iranian President Mahmoud Ahmadinejad – or to his wife, if you want to get technical about it – but it's about to go up for auction.

The vehicle played a key role in the Persian leader's campaign for the presidency, in which he pledged to create more housing for low-income families in Iran. To that end, he's putting the car up for auction, proceeds benefiting the country's Mehr housing project. Given the notoriety of its owner, this particular example is expected to bring in more than the average '70s Peugeot.

Gallery: Peugeot 504